First-Time Homebuyers: Shoreham Bank Is Here to Guide You
Purchasing your first home is an exciting milestone, but it often comes with questions about credit, down payments, and affordability. At Shoreham Bank, we specialize in helping first-time buyers navigate the process with confidence.
Understanding Credit
Your credit score is one of the most important factors in qualifying for a mortgage. Our loan officers will:
- Explain how credit impacts loan approval
- Offer guidance on improving your score
- Present loan options designed for a range of credit profiles
Down Payment Solutions
Contrary to popular belief, you don’t always need 20% down to buy a home. Shoreham Bank offers:
- Low/no down payment programs
- Assistance options for qualified buyers that meet a certain income criteria
- Flexible solutions to help you purchase sooner
- Fast closing time, typically in 30 days or less
Determining What You Can Afford
Affordability goes beyond the listing price. Our team helps you:
- Calculate a comfortable monthly payment
- Factor in taxes, insurance, closing costs, and mortgage insurance (if applicable)
- Match you with lending options that fit your budget
Programs Designed for First-Time Buyers
Shoreham Bank offers specialized loan programs, including:
- Conventional Loans for straightforward financing
- FHA Loans with flexible requirements
- VA Loans for veterans with low or no down payment options
- RI Housing Programs as a RI Housing partner we are able to underwrite in-house for an efficient and personalized lending process
- Medical Professional Loans tailored for recent graduates
We also provide the Keys to Confidence Program, giving you tools and support even after closing, so you feel secure in your new home.
Partner With Shoreham Bank
Buying your first home doesn’t have to be overwhelming. Our Residential Loan Officers are here to guide you through every step, ensuring you make informed decisions with confidence.
Connect with a Residential Loan Officer today and start your journey toward homeownership.